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Note 6 - Operating Segment Reporting | 12 Months Ended
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Dec. 31, 2020
Operating Segments Reporting |
Disclosure Of Entitys Reportable Segments Explanatory | 6. Operating segment reporting Operating segment reporting represents a basic tool in the oversight and management of the BBVA Group’s various activities. The BBVA Group compiles reporting information on disaggregated business activities. These business activities are then aggregated in accordance with the organizational structure determined by the BBVA Group and, ultimately, into the reportable operating segments themselves. As of December 31, 2020, the structure of t he information by operating segments of the BBVA Group remains basically the same as that of the financial year ended 2019, although BBVA reached agreements that, in some cases, could affect its structure. Due to the agreement reached for the sale of the G roup's entire stake in BBVA USA Bancshares, Inc., parent company of the Group companies related to the banking business in the United States, the balance sheet items of the companies for sale and the gains and losses generated by them have been classified in accordance with IFRS 5 “Non-current assets held for sale and discontinued operations” (see Notes 2.2.4 and 21). Likewise, in accordance with IFRS 8 “Operating Segments”, information on the United States operating segment including the balances of the co mpanies for sale continues to be provided for the years 2020, 2019 and 2018. The BBVA Group's operating segments and the agreements reached are summarized below: Spain Includes mainly the banking and insurance business that the Group carries out in Spain, including the results of the new company BBVA Allianz Seguros y Reaseguros, S.A. (see Note 3). The United States Includes the business activity of BBVA USA, comprising the Group's wholesale business through the New York branch, the stake in Propel Venture Partners and the business developed through its broker dealer BBVA Securities Inc. None of the aforementioned activities has been included in the sale agreement reached with PNC. Regarding this agreement, it includes BBVA USA and other subsidiaries in the United States with activities related to the banking activity (see Notes 1.3, 3 and Note 21). Mexico Includes banking and insurance businesses in this country as well as the activity of BBVA Mexico in Houston. Turkey 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. South America Primarily includes the Group´s banking and insurance businesses in the region. In relation to the sale of BBVA Paraguay, the closing of the transaction took place in January 2021 (see Note 3). Rest of Eurasia Includes the banking business activity carried out by the Group in Europe and Asia, excluding Spain. Lastly, Corporate Center performs centralized Group functions, including: the co sts 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 lin ked to customer relationships, such as industrial holdings, certain tax assets and liabilities; funds due to commitments to employees; goodwill and other intangible assets. The breakdown of the BBVA Group’s total assets by operating segments as of December 31, 2020, 2019 and 2018, is as follows:
Total assets by operating segments (Millions of Euros)
| 2020 | 2019 | 2018
Spain | 405.878 | 364.427 | 353.923
The United States | 93.953 | 88.529 | 82.057
Mexico | 110.224 | 109.079 | 97.432
Turkey | 59.585 | 64.416 | 66.250
South America | 55.435 | 54.996 | 54.373
Rest of Eurasia | 22.881 | 23.257 | 18.845
Subtotal assets by operating segments | 747.957 | 704.703 | 672.880
Corporate Center and adjustments | (11.781) | (6.967) | 2.796
Total assets BBVA Group | 736.176 | 697.737 | 675.675
The following table sets forth certain summarized information relating to results of each operating segment and Corporate Center for the years ended December 31, 2020, 2019 and 2018:
| BBVA Group | Spain | The United States | Mexico | Turkey | South America | Rest of Eurasia | Corporate Center | Adjustments (***)
2020 |  |  |  |  |  |  |  |  |
Net interest income | 14.592 | 3.553 | 2.284 | 5.415 | 2.783 | 2.701 | 214 | (149) | (2.209)
Gross income | 20.166 | 5.554 | 3.152 | 7.017 | 3.573 | 3.225 | 510 | (57) | (2.808)
Operating income | 11.079 | 2.515 | 1.281 | 4.677 | 2.544 | 1.853 | 225 | (876) | (1.140)
Operating profit /(loss) before tax | 5.248 | 809 | 502 | 2.472 | 1.522 | 896 | 184 | (1.160) | 22
Profit (loss) after tax from discontinued operations | (1.729) | - | - | - | - | - | - | - | (1.729)
Net attributable profit (loss) (**) | 1.305 | 606 | 429 | 1.759 | 563 | 446 | 137 | (2.635) | -
2019 (*) |  |  |  |  |  |  |  |  |
Net interest income | 15.789 | 3.567 | 2.395 | 6.209 | 2.814 | 3.196 | 175 | (233) | (2.335)
Gross income | 21.522 | 5.656 | 3.223 | 8.029 | 3.590 | 3.850 | 454 | (339) | (2.941)
Operating income | 11.368 | 2.402 | 1.257 | 5.384 | 2.375 | 2.276 | 161 | (1.294) | (1.193)
Operating profit /(loss) before tax | 7.046 | 1.878 | 705 | 3.691 | 1.341 | 1.396 | 163 | (1.457) | (670)
Profit (loss) after tax from discontinued operations | (758) | - | - | - | - | - | - | - | (758)
Net attributable profit (loss) (**) | 3.512 | 1.386 | 590 | 2.699 | 506 | 721 | 127 | (2.517) | -
2018 (*) |  |  |  |  |  |  |  |  |
Net interest income | 15.285 | 3.618 | 2.276 | 5.568 | 3.135 | 3.009 | 175 | (269) | (2.227)
Gross income | 20.936 | 5.888 | 2.989 | 7.193 | 3.901 | 3.701 | 415 | (420) | (2.731)
Operating income | 10.883 | 2.554 | 1.129 | 4.800 | 2.654 | 1.992 | 128 | (1.291) | (1.083)
Operating profit /(loss) before tax | 7.565 | 1.840 | 920 | 3.269 | 1.444 | 1.288 | 147 | (1.329) | (15)
Profit (loss) after tax from discontinued operations | 704 | - | - | - | - | - | - | - | 704
Net attributable profit (loss) (**) | 5.400 | 1.400 | 736 | 2.367 | 567 | 578 | 96 | (343) | -
(*) The figures corresponding to 2019 and 2018 have been restated (see Note 1.3). (**) See Note 55. (***) It includes the reclassification as “Profit (loss) after tax from discontinued operations” of the balances from companies for sa le in BBVA USA (see Note 21).

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